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H1FY17 revenue up 4% at Burberry
Oct '16
For the six months to September 30, 2016, total revenue at luxury goods and premium fashion marketer Burberry was up 5 per cent year on year on a reported basis, but down 4 per cent on an underlying basis at £1,159 million. Of this, retail revenue totalled £859 million, up 2 per cent on underlying basis and an increase of 11 per cent on a reported basis.

Comparable sales improved in the second fiscal quarter and were up 2 per cent as against a drop of 3 per cent in the first fiscal quarter, but remained unchanged for the reporting period.

Excluding Hong Kong and Macau, the whole of Asia Pacific reported positive comparable sales in the first half of fiscal 2017.

However, wholesale revenue declined at 14 per cent on underlying basis to touch £287 million, which Burberry said was broadly in line with guidance.

Licensing revenue dived to £13 million or 54 per cent year over year in the period under review, driven by planned expiry of Japanese Burberry licenses and also consistent with guidance. (AR)

Fibre2Fashion News Desk – India

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